No claim bonus (NCB) is a reward that policyholders receive from the insurer for staying healthy and not making any claim on the policy in a year | Photo Credit: Feodora Chiosea
Gurugram-based Toffee Insurance, an InsurTech startup, has rolled out a first-of-its-kind product “The Toffee Plan”, covering health, life and household all in a bundle with bite-sized monthly payments.
This sachet insurance plan is introduced to the people on a Subscription Basis at a monthly premium starting from a cost as reasonable as ₹ 600 backed by trusted Insurance Partners. The consumers don’t have to look for three separate insurance plans for themselves and their family, exploring new policies for increased coverage, the concern of piles of paperwork, jargon, etc. Toffee Insurance has designed the plan to be time and cost-efficient, covering various verticals along with zero paperwork and hassle for the clients.
This solution by Toffee Insurance is backed by Tata AIG, Religare, ICICI Prudential, and India First that provides a Health insurance cover starting from ₹3 lakhs for each family member, Life Insurance starting from ₹50 lakhs and Household Insurance starting from ₹1 lakh. Also, the plan also covers hospitalisation expenses rising from pandemics such as COVID-19.
Rohan Kumar, CEO and Co-Founder of Toffee Insurance said: “With the current pandemic, the demands of customers have changed from lifestyle to necessary insurance that covers them and their families. Understanding the situation in hand, we’ve devised the holistic ‘The Toffee Plan’, an insurance plan that you will ever need, which provides coverage keeping in mind the affordability and accessibility factor for all.”
Published on August 15, 2020
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